Power Co. of Canada (TSE:POW) Given New C$40.00 Price Target at CIBC

Power Co. of Canada (TSE:POW - Free Report) had its price objective lowered by CIBC from C$43.00 to C$40.00 in a research report report published on Friday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the financial services provider's stock.

Several other analysts have also recently issued reports on POW. BMO Capital Markets increased their price objective on Power Co. of Canada from C$38.00 to C$41.00 in a research note on Friday, March 15th. Royal Bank of Canada upgraded Power Co. of Canada from a sector perform rating to an outperform rating and increased their price objective for the company from C$41.00 to C$45.00 in a research note on Thursday, January 4th. TD Securities cut Power Co. of Canada from a buy rating to a hold rating and raised their price target for the company from C$40.00 to C$42.00 in a research note on Friday, March 22nd. National Bankshares raised their price target on Power Co. of Canada from C$39.00 to C$41.00 in a research note on Thursday, March 21st. Finally, Desjardins raised their price target on Power Co. of Canada from C$39.00 to C$40.00 and gave the company a buy rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of C$41.44.

Power Co. of Canada Price Performance

Shares of POW stock traded down C$0.24 during trading hours on Friday, reaching C$36.40. The company had a trading volume of 3,837,729 shares, compared to its average volume of 2,905,841. The company has a debt-to-equity ratio of 50.75, a quick ratio of 107.64 and a current ratio of 23.47. The stock has a fifty day moving average of C$38.16 and a 200-day moving average of C$37.33. The company has a market capitalization of C$21.66 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.95 and a beta of 1.11. Power Co. of Canada has a 12-month low of C$32.33 and a 12-month high of C$40.30.

Power Co. of Canada (TSE:POW - Get Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing the consensus estimate of C$1.00 by C($0.11). The business had revenue of C$21.37 billion during the quarter. Power Co. of Canada had a return on equity of 8.94% and a net margin of 6.89%. On average, equities analysts anticipate that Power Co. of Canada will post 4.5349398 earnings per share for the current year.

Power Co. of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, March 28th will be issued a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date is Wednesday, March 27th. This is a positive change from Power Co. of Canada's previous quarterly dividend of $0.53. Power Co. of Canada's payout ratio is currently 65.60%.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.